Mulberry has seen its profits hit by a poor turnover within Europe – it’s main market- and the ever-rising material costs. The departure of creative director Emma Hill has not helped either, as Mulberry’s shares sharply fell on the back of the news.
Spanish fashion retailer Mango has closed a quite profitable year, seeing its full year net profit jumped by 79 percent. Profit after tax in 2012 amounted to 113.4 million euros, with 84 percent of turnover coming from foreign markets and 16 percent corresponding to the domestic market.
Zara has entered the Best Global Green Brands for 2013 for the first time. This ranking is elaborated by Interbrand, a consulting firm that focuses on sustainable aspects of brands. Adidas, Nike and H&M are the other textile firms that are part of this ranking.
British women’s wear retailer Topshop has opened its first store in China on Thursday June 6th in Hong Kong, as the Arcadia brand continues with its international expansion. The 14,000 square foot store will be launched with a series of activities including live music, giveaways, and an appearance by special guests before owner Sir Phillip Green cuts the ribbon.
Cashmere as a traditional luxury product falls directly into the 2013 luxury market outlook and if Bain & Co and Fondazione Altagamma are correct in their forecasts it appears that this will be another good year for this noble fiber and its South American relatives such as alpaca.